First-time buyers are less likely than others to see the need to protect their mortgage payments — so advisers must focus on the facts.

The difficulties facing first-time buyers are well known. That said, brokers have done a great job of helping this group get onto the housing ladder in recent years and we are seeing more first-timers take out mortgages than ever before.

In fact, recent figures from Halifax show that nearly half (46 per cent) of house purchases financed by a mortgage last year were made by first-time buyers.

However, while this is positive, the fact remains that many of these buyers fail to take out the insurance needed to protect themselves.

Unfortunately, many still seem to think that life insurance, critical illness cover and income protection are an unnecessary expense. In part, this may be because many first-timers are single and do not have any dependents, so it can be difficult for them to envisage who would be financially affected if the worst were to happen.